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Kia to invest $200 mn to produce EV9 SUV at US plant Kia, South Korea's second-largest carmaker by sales, said on Thursday it will invest $200 million to produce the all-electric EV9 SUV in its US plant next year. The flagship EV9 will be the first EV for Kia to be assembled in the US, the company said in a statement. Kia currently produces four models -- the K5 sedan, and the Telluride, Sorento and Sportage SUVs -- in Georgia, reports Yonhap news agency. The Telluride is sold only in North American markets. It is produced in Kia&#...
Kia to invest $200 mn to produce EV9 SUV at US plant
Kia to invest $200 mn to produce EV9 SUV at US plant
Source: IANS
13/07/2023 12:33:44 PM
Maruti Suzuki goes upmarket in India with new seven seater  Maruti Suzuki, India's biggest automaker, is looking to break into the premium car segment with its new seven seater, as a growing number of buyers opt for bigger, feature-packed cars. Maruti, known for small and compact cars that are mostly priced below 1 million rupees ($12,000), on Wednesday launched the Invicto people mover starting from around 2.5 million rupees ($30,000). The company aims to raise its brand image and enter a segment where it sees rapid growth as the purc...
Maruti Suzuki goes upmarket in India with new seven seater
Maruti Suzuki goes upmarket in India with new seven seater
Source: Reuters
5/07/2023 5:23:20 PM
Hyundai to invest $18.2 bn in EV production by 2030 Hyundai Motor Group said on Tuesday it will invest 24 trillion won ($18.2 billion) in its domestic electric vehicle (EV) production facilities and other EV projects by 2030. Hyundai Motor, its smaller affiliate Kia and auto parts maker Hyundai Mobis will collectively make the investment to become the world's No. 3 EV maker in terms of sales by 2030, the group said in a statement. The move is in line with global carmakers' plans to fill their lineups with zero-emission vehicles t...
Hyundai to invest $18.2 bn in EV production by 2030
Hyundai to invest $18.2 bn in EV production by 2030
Source: IANS
11/04/2023 5:12:02 PM
Renault-Nissan plan India reboot in test of reshaped alliance  A revamped alliance between Renault and Nissan will face an early test in India, where the automakers plan new investment in a bid to close the gap on rivals, people with knowledge of the plans told Reuters. The automakers reached a deal in principle on Monday to restructure their two-decade partnership by putting both companies on an equal footing in terms of shareholding and with Nissan investing in Renault's new electric vehicle (EV) unit. The French and Japanese companies ...
Renault-Nissan plan India reboot in test of reshaped alliance
Renault-Nissan plan India reboot in test of reshaped alliance
Source: Reuters
2/02/2023 3:54:23 PM
India`s auto show set to feature electric cars, scooters NEW DELHI - Electric cars, scooters and trucks are expected to take centre stage at India's biennial car show which kicks off on Wednesday on the outskirts of New Delhi after a year-long postponement because of the COVID-19 pandemic. Firms from Hyundai Motor to SAIC Motor, BYD and Tata Motors are set to focus on electric cars. Meanwhile Suzuki Motor Corp's India unit Maruti Suzuki and Toyota Motor are expected to showcase other technologies as well, in hybrid and hydrogen fuel...
India`s auto show set to feature electric cars, scooters
India`s auto show set to feature electric cars, scooters
Source: IANS
11/01/2023 9:37:34 AM
Toyota launches second hybrid vehicle in India amid green car push Toyota Motor Corp on Friday launched its second hybrid car in India, a seven-seat people-carrier, as part of a broader strategy to double-down on the sale of electrified vehicles in emerging markets. The Innova HyCross, a hybrid version of the popular multi-purpose vehicle that Toyota already sells in India, builds on the success of its hybrid sport-utility vehicle (SUV), Urban Cruiser HyRyder, which went on sale in September. "With this offering we are confident that the expansion...
Toyota launches second hybrid vehicle in India amid green car push
Toyota launches second hybrid vehicle in India amid green car push
Source: Reuters
25/11/2022 8:47:30 PM
Toyota cuts output target amid chip crunch as profit tumbles 25% Toyota Motor Corp on Tuesday posted a worse-than-expected 25% drop in quarterly profit and cut its annual output target, as the Japanese firm battles surging material costs and a persistent semiconductor shortage. The world's biggest automaker by sales also warned that it remained difficult to predict the future after posting its fourth consecutive quarterly profit decline, underlining the strength of business headwinds it faces. During the coronavirus pandemic, Toyota fared better ...
Toyota cuts output target amid chip crunch as profit tumbles 25%
Toyota cuts output target amid chip crunch as profit tumbles 25%
Source: Reuters
1/11/2022 2:50:26 PM
Automakers to double spending on EVs, batteries to $1.2 trillion by 2030 The world's top automakers are planning to spend nearly $1.2 trillion through 2030 to develop and produce millions of electric vehicles, along with the batteries and raw materials to support that production, according to a Reuters analysis of public data and projections released by those companies. The EV investment figure, which has not previously been published, dwarfs previous investment estimates by Reuters and is more than twice the most recent calculation published just a year ag...
Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
Source: Reuters
26/10/2022 9:47:45 AM
Gadkari launches Toyota's pilot project on flex fuel hybrid vehicle Union Road Transport and Highway Minister Nitin Gadkari on Tuesday launched Toyota's pilot project on flex fuel-strong hybrid electric vehicle (FFV-SHEV) that can run on 20 to 100 per cent ethanol. "Today our dream has come true...! Launched India's first FFV-SHEV which would run on 100 per cent petrol as well as 20 to 100 per cent blended ethanol and electric powertrain," said Gadkari on Tuesday after launching the car. The Union Minister added that the success of thi...
Gadkari launches Toyota's pilot project on flex fuel hybrid vehicle
Gadkari launches Toyota's pilot project on flex fuel hybrid vehicle
Source: Accord Fintech
11/10/2022 3:57:21 PM
Honda to cut car output at two Japanese plants in October Honda Motor Co said on Thursday it would reduce car output by up to 40% at two Japanese plants for the rest of October from its earlier plans, as the company battles with persistent supply chain and logistical problems. Two lines at Honda's Suzuka plant in western Japan will cut production by about 20% in October, while its assembly plant in Saitama prefecture, north of Tokyo, will lower production plans by about 40% for the month. The automaker said last month it would cut vehicle ...
Honda to cut car output at two Japanese plants in October
Honda to cut car output at two Japanese plants in October
Source: Reuters
6/10/2022 2:58:33 PM
GM outsells Toyota in Q2 as inventory shortages linger General Motors Co surpassed Toyota Motor Corp in second-quarter U.S. car sales, data on Friday showed, even as persistent chip shortages and supply-chain disruptions crimped automakers' ability to meet pent-up demand.
GM outsells Toyota in Q2 as inventory shortages linger
GM outsells Toyota in Q2 as inventory shortages linger
Source: Reuters
2/07/2022 9:15:41 AM
Toyota unveils its first mass market hybrid car for India, emerging markets Toyota Motor Corp on Friday unveiled its first mass market hybrid car for India, a sport utility vehicle (SUV), charting a new course for the Japanese automaker in one of the world's fastest growing car markets. The Urban Cruiser Hyryder SUV, the first car to be built by Toyota as part of a global alliance with Suzuki Motor Corp, will compete with Hyundai Motor Co and Kia Motors in a segment that accounts for the bulk of auto sales in India. The new model will be a "game change...
Toyota unveils its first mass market hybrid car for India, emerging markets
Toyota unveils its first mass market hybrid car for India, emerging markets
Source: Reuters
1/07/2022 2:51:12 PM
Toyota, Suzuki to build hybrid vehicle for India, global markets NEW DELHI - Toyota Motor Corp and Suzuki Motor Corp said on Friday they will begin production in August of their first hybrid vehicle in India, as part of a partnership formed by the two Japanese carmakers in 2017. The hybrid sport utility vehicle (SUV), developed by Suzuki, will be manufactured at Toyota's local plant in southern India. The SUV will be sold in India and exported to markets including Africa, the companies said in a statement. The powertrains of the SUV will be ...
Toyota, Suzuki to build hybrid vehicle for India, global markets
Toyota, Suzuki to build hybrid vehicle for India, global markets
Source: Reuters
24/06/2022 11:32:42 AM
Toyota misses April global production target due to COVID, parts shortage TOKYO -Japan's Toyota Motor Corp on Monday said it missed its global production target for April as COVID-19 outbreaks and a parts shortage slowed its post-pandemic recovery. The world's largest automaker by sales produced 692,259 vehicles last month, a 9.1% drop from the same month last year, and falling short of an earlier plan of making about 750,000 vehicles worldwide. The numbers raise questions over the severity of the pandemic-hit supply chains and how the disruption will...
Toyota misses April global production target due to COVID, parts shortage
Toyota misses April global production target due to COVID, parts shortage
Source: Reuters
30/05/2022 10:39:35 AM
Top automakers halt production in Russia amid Ukrainian invasion  As nations around the globe slap heavy sanctions on Russia, several top automakers have halted production at their respective facilities in the country and paused exports as Russian forces entered key Ukrainian cities after causing widespread destruction. Toyota Motor Corporation said it would halt production at its Russian factory, starting Friday. The company has one plant in St Petersburg that manufactures RAV4 and Camry models, especially for the Russian market. Daimler Tru...
Top automakers halt production in Russia amid Ukrainian invasion
Top automakers halt production in Russia amid Ukrainian invasion
Source: IANS
3/03/2022 8:22:28 PM
Toyota remains world's biggest car seller, widens lead on VW TOKYO  - Japan's Toyota Motor Co said on Friday its vehicle sales rose by 10.1% last year, making it the world's biggest carmaker for a second straight year and putting it further ahead of its nearest rival, Germany's Volkswagen AG. The carmaker said sales were 10.5 million vehicles in 2021, including those by affiliates Daihatsu Motors and Hino Motors. That compares with 8.9 million https://www.reuters.com/business/autos-transportation/volkswagen-sees-81-sales-drop-202...
Toyota remains world's biggest car seller, widens lead on VW
Toyota remains world's biggest car seller, widens lead on VW
Source: Reuters
28/01/2022 1:23:48 PM
Key News - Toyota Motor Corporation Ltd, Larsen & Toubro Ltd, Infosys Ltd, Netflix, State Bank of India By ARETE Securities Key News Toyota to spend $35 bn on line-up of 30 battery electric vehicles by 2030 Toyota Motor Corp said on Tuesday it would invest 4 trillion yen ($35 billion) to build a line-up of 30 battery electric vehicles (BEV) by 2030 as the world's biggest car maker looks to tap the growing market of zero emission vehicles. That would be part of an overall investment of 8 trillion yen in electrified vehicles, including hybrids and hydrogen vehicles, by the end of the decade, the company s...
Key News - Toyota Motor Corporation Ltd, Larsen & Toubro Ltd, Infosys Ltd, Netflix, State Bank of India By ARETE Securities
Key News - Toyota Motor Corporation Ltd, Larsen & Toubro Ltd, Infosys Ltd, Netflix, State Bank of India By ARETE Securities
Source: ARETE Securities Ltd
15/12/2021 9:24:36 AM
Toyota lifts annual profit outlook on a weaker yen TOKYO -Toyota Motor Corp reported a better-than-expected 48% rise in second-quarter operating profit and raised its earnings outlook on Thursday as it benefited from a rebound in vehicle demand and a weaker yen. It raised its full-year profit forecast to 2.8 trillion yen ($24.5 billion) from 2.5 trillion yen, but said that without the favourable currency impact, it was "in substance a downward revision due to raw material cost increases". Its operating profit of 750 billi...
Toyota lifts annual profit outlook on a weaker yen
Toyota lifts annual profit outlook on a weaker yen
Source: Reuters
4/11/2021 11:10:21 AM
Toyota to spend over $13.5 billion on EV batteries by 2030 TOKYO - Toyota Motor Corp said on Tuesday it expects investments for development of its battery supply system and research and development to be about 1.5 trillion yen ($13.65 billion) by 2030. ($1 = 109.8500 yen)   (Reporting by Tim Kelly; Editing by Himani Sarkar)
Toyota to spend over $13.5 billion on EV batteries by 2030
Toyota to spend over $13.5 billion on EV batteries by 2030
Source: Reuters
7/09/2021 12:19:14 PM
Toyota to buy Lyft unit in boost to self-driving plans AUSTIN, Texas/TOKYO  - Toyota Motor Corp will acquire Lyft Inc's self-driving technology unit for $550 million, the companies said, as the Japanese firm steps up its automation ambitions with the newly created Woven Planet division. The acquisition of Level 5 automation will also provide Toyota access to the U.S. ride-hailing firm's more than 300 employees of the essentially complete autonomy technology. "This is the first step of establishing and bringing together the...
Toyota to buy Lyft unit in boost to self-driving plans
Toyota to buy Lyft unit in boost to self-driving plans
Source: Reuters
28/04/2021 9:22:18 AM
Toyota unveils new models in advanced driver-assist technology push TOKYO  - Toyota Motor Corp unveiled on Thursday new models of Lexus and Mirai in Japan, equipped with advanced driver assistance, as competition heats up to develop more self-driving and connected cars. Toyota's latest launch comes as automakers, electric car startups and tech giants invest heavily in so-called active safety features. The Japanese carmaker's new driving assist technology, or Advanced Drive, features a level 2 autonomous system that helps driving, such as li...
Toyota unveils new models in advanced driver-assist technology push
Toyota unveils new models in advanced driver-assist technology push
Source: Reuters
8/04/2021 2:32:55 PM
Toyota unveils new cars with advanced driving assist technology TOKYO- Toyota Motor Corp on Thursday unveiled its new Lexus and Mirai models in Japan, equipped with the company's latest advanced driver assistance that enables safe driving and wireless software updates. The carmaker's new driving assist technology, or Advanced Drive, is a level 2 autonomous system that helps drivers with driving conditions such as keeping the car in its lane, maintaining the distance from other vehicles, changing lanes on expressways or other motor-vehicle only ...
Toyota unveils new cars with advanced driving assist technology
Toyota unveils new cars with advanced driving assist technology
Source: Reuters
8/04/2021 10:49:44 AM
Toyota, Isuzu revive alliance with capital tie-up TOKYO  - Toyota Motor Corp and Isuzu Motors Ltd announced a capital alliance on Wednesday, reviving a partnership to bolster their competitive edge in connected, commercial vehicles. Toyota will acquire 39 million shares in Isuzu, worth 42.8 billion yen, taking a 4.6% stake, they said. Toyota and Isuzu dissolved a previous capital tie-up in 2018. Isuzu, Hino Motors and Toyota will set up the new joint venture, they said. Toyota will own 80%, while Isuzu and Hino will own 10% each, ...
Toyota, Isuzu revive alliance with capital tie-up
Toyota, Isuzu revive alliance with capital tie-up
Source: Reuters
24/03/2021 12:36:57 PM
Toyota develops fuel cell system to cut carbon footprint TOKYO- Toyota Motor Corp said on Friday it has developed a packaged fuel cell system module, as it hopes to expand its usage and accessibility of the zero-emission technology amid the industry's shift towards electric vehicles (EVs). The world's biggest automaker, which launched a revamped Mirai in December, has not been successful in winning drivers over to fuel cell vehicles (FCV). The FCV segment remains a niche technology despite Japanese government backing, amid concerns ab...
Toyota develops fuel cell system to cut carbon footprint
Toyota develops fuel cell system to cut carbon footprint
Source: Reuters
26/02/2021 1:49:18 PM
Toyota hikes profit forecast 54%, shrugs off global chip supply issues TOKYO - Toyota Motor Corp said on Wednesday it has an up to four-month stockpile of chips and was not immediately expecting a global chip shortage to hit production, as it jacked up its full-year earnings forecast by a bigger-than-expected 54%. Unlike other automakers, including Japanese peers Nissan Motor Co Ltd and Honda Motor Co Ltd, that have had to cut production because of semiconductor shortages, Toyota raised output for the fiscal year ending March. Shares in Toyota, the world&#...
Toyota hikes profit forecast 54%, shrugs off global chip supply issues
Toyota hikes profit forecast 54%, shrugs off global chip supply issues
Source: IANS
10/02/2021 1:51:43 PM
Chip shortage forces Ford, Toyota, Nissan, FCA to cut vehicle production TOKYO - Ford Motor Co, Toyota Motor Corp, Fiat Chrysler Automobiles and Nissan Motor Co Ltd said on Friday they would cut vehicle production this month due to a shortage of semiconductors, becoming the latest automakers hit by a chip crunch as demand rebounds from the coronavirus crisis. Honda Motor Co also said Friday its output in Japan could be affected by a shortage of semiconductors. Automakers and electronic makers are facing a global shortage of chips as consumer demand has ...
Chip shortage forces Ford, Toyota, Nissan, FCA to cut vehicle production
Chip shortage forces Ford, Toyota, Nissan, FCA to cut vehicle production
Source: Reuters
10/01/2021 9:39:30 AM